Retirement Options Refresher: IRAs, SEP, Solo 401(k), and What to Do When You Have Multiple Accounts
As a performing artist, you may not have access to a traditional workplace 401(k), but thatdoesn’tmean youcan’tretire comfortably.Here’sa refresher on your best options.
Traditional and Roth IRAs
- Contribution limit (2026): $7,500/year ($1,100 Catch Up, 50+)
- Roth IRA: Pay tax now, withdraw tax-free later
- Traditional IRA: Pay tax later (potential deduction now)
SEP IRA
- Great for self-employed artists with variable income
- Contribute up to 25% of net earnings (max $72,000 in 2026)
- Easy to set up, little paperwork
Solo 401(k)
- Best for artists with consistent self-employment income
- Higher contribution limits: up to $72,000 total (2026), depending on income
- Can include a Roth component
What If You Have Multiple Accounts?
- Consolidate when possiblefor easier management
- Avoid overlap in investments
- Keep track of contribution limits across all accounts (especially IRAs)
When to Talk to a Pro
Ifyou’renot sure how much to contribute, which plan to use, or how to invest your savings, a financial advisor can help youoptimizeyour retirement path, even with an irregular income.